It is time. I haven’t pulled Peter Schiff out from the woodworks since the world ended in 2009. Lo and behold, he is back, bringing forth his brand of excessive gloom, suggesting “we’re going MUCH, MUCH LOWER” and how this bubble is twice the bubble of the previous two combined (lolz).
Also, he lays waste to the token bull he was debating. It was like watching Macho Man Randy Savage defend the Intercontinental title against some random throw in named Tom Stone.
I especially like when Schiff laughed at the fat guy for wanting to buy dips, dismissing him completely by not even acknowledging his existence.
Some highlights.
We’re in denial.
QE4 is coming.
The Great Recession is about to resume.
We’re going to die of the Fed’s cure.
The economy is in lousy shape.
This is as contained as the mortgage crisis in 2007.
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Ah yes, the double bubble bubble.
He’s been calling for 5k/oz gold and hyperinflation since 09. He’s almost as bad as Gartman
Peter Schiff: Often wrong. NEVER in doubt.
So apropos the opposition was a fat guy
Maybe this is some contrarianception shit, where Gartman is right and all the bears come out and are actually right, lol. Maybe too many people are still buying the dip and it will keep the declines to unusually quickly low levels.
The only real wrestling is lucha. The rest is fake.
Is this problem? The central banks have eased and governments have borrowed for years, but growth has been tepid to the point that the expected economic activity isn’t enough to pay the loans back. There is also the massive oil, gas and natural resources overproduction to contend with and those companies can’t pay their loans back either. Now the Fed is raising rates into this and I suppose this puts a lock on a full-blown recession in about 6 months? Did the Fed want to be above 0 when it hits so they will have some ammo? They will be shooting blanks at that point anyway.
exact scenario, Exact dear watson, bears laid out 4 years ago